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Yoshie Furuhashi
Yoshie Furuhashi, Founder, Movement Translation Service
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Yoshie Furuhashi retweeted
wsbgnl Nov 14
Replying to @wsbgnl
Matt Bruenig wrote a good overview of this SCF measurement issue last year.
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Yoshie Furuhashi retweeted
wsbgnl Nov 14
Replying to @wsbgnl
New 2019 SCF data indicate that total outstanding student debt is $1.1 trillion. However, the Fed's G.19 data report $1.6 trillion. 🚨That means about $500 billion or 31% of all student debt is not accounted for by the "dominant" household members included in the 2019 SCF.
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Yoshie Furuhashi retweeted
JW Mason 28 Jun 19
Replying to @MattBruenig
makes important point that by not including people living with their parents, SCF substantially understates student debt of younger/lower-income people. In reality student debt cancellation would be more progressive than these figures imply.
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Yoshie Furuhashi retweeted
JW Mason 28 Jun 19
Replying to @JWMason1
The fraction of the families in the top 5% who owe any education debt is less than half the fraction of families closer to the middle. So if you limit analysis to families that have debt, it exaggerates apparent benefits of forgiveness to top.
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Yoshie Furuhashi retweeted
JW Mason 28 Jun 19
Replying to @JWMason1
There's one important difference between these numbers and ones you usually see. I am looking at debt across all families. Fed and most others normally discuss income distribution of debt in terms only of families that have that kind of debt.
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Yoshie Furuhashi retweeted
JW Mason 28 Jun 19
Replying to @JWMason1
And for comparison, average ratio of total debt to income, by income quantile. Note that unlike student debt, this one rises over most the range - not counting the anomalous bottome 5%, the higehst average debt-income ratio is around the 90th percentile.
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Yoshie Furuhashi retweeted
JW Mason 28 Jun 19
Replying to @JWMason1
Average ratio of student debt to income, by income quantile.
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Yoshie Furuhashi retweeted
JW Mason 28 Jun 19
Here are my calculations of the distribution of student debt, based on SCF. (Lots of other people have done this; I'm not adding anything new.) Bottom line is that absolute debt generally rise with income, but debt-income ratio falls. So we're back to asking what is "regressive".
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Yoshie Furuhashi retweeted
◥◤Marfa Stewart Nov 16
Replying to @kristoncapps
Notable corollary to that study: Data from the Survey of Consumer Finances systematically understates the amount of student debt for low income households
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Yoshie Furuhashi retweeted
◥◤Marfa Stewart Nov 16
I don’t think student loan forgiveness is going to make anyone angry, but it’s a regressive rebate for people who make more than $97,000 so maybe it should
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Yoshie Furuhashi retweeted
Nanonomics Nov 27
Replying to @crampell
1. Stop charging high interest or piling unpaid interest to the balance. 2. Student loan debt discourages going to college, a negative for the economy. 3. Student debt ruins debt-to-income ratios, preventing mortgage lending.
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Yoshie Furuhashi retweeted
Ioana Marinescu Nov 28
Replying to @crampell
Just what Scheinkman says 👇
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Yoshie Furuhashi retweeted
Mr. Ed Nov 27
Replying to @crampell
Taxpayer-funded preschool, i.e. lowering the age at which the gov starts watching peoples children while they work, would help so many more people. But the talk on Twitter is all about paying off student debt. Methinks some of these socialists might want to check their privilege.
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Yoshie Furuhashi retweeted
wsbgnl Nov 27
Replying to @crampell
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Yoshie Furuhashi retweeted
Catherine Rampell Nov 27
IGM Panel of econ experts on student debt forgiveness. Response summary: 1) Forgiving all student loan debt would be regressive 2) Loan forgiveness with low enough income caps *could* be progressive 3) There are likely better ways to stimulate the economy
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Yoshie Furuhashi retweeted
FXGlobe Market News 23h
(Voter) Fed's Kashkari: Any policy alleviating student debt needs to be looked at carefully, to benefit neediest.
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Yoshie Furuhashi retweeted
*Walter Bloomberg 24h
FED'S KASHKARI SAYS CANCELING ALL STUDENT DEBT MAY BE REGRESSIVE, REWARDING BETTER OFF
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Yoshie Furuhashi retweeted
Michael S. Derby 24h
Minneapolis Fed Kashkari compares US response to 9/11 and what's happened in the pandemic: "I struggle with understanding our mindset” to allow this level of death without taking stronger action, he said.
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Yoshie Furuhashi retweeted
*Walter Bloomberg 24h
FED'S KASHKARI SAYS THE ECONOMY BOUNCED BACK QUICKLY BECAUSE CONGRESS WAS GENEROUS WITH AID
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Yoshie Furuhashi retweeted
*Walter Bloomberg 24h
*Kashkari: U.S. Is Very Long Way Away From Recovered Economy
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